Rusnano prepared for restructuring due to huge debts

State Corporation Rusnano is thinking about restructuring due to “disproportionate debt”

bonds, within which a possible restructuring was discussed. This is stated on the company's website.

According to the Kommersant newspaper, the corporation is thinking about restructuring due to huge debts. “It was stated that the accumulated disproportionate debt and the current financial model of the [joint-stock] company require adjustments,” Rusnano admitted.

The Moscow Exchange has suspended trading in nine issues of Rusnano bonds since November 19. The total volume of their issues is 71.6 billion rubles. The company has not yet announced the reasons for the suspension of trading.

According to financial statements in accordance with Russian Accounting Standards (RAS), Rusnano's revenue grew 5.9 times, and gross profit – 5.3 times, to 15.3 billion rubles. However, the company has a lot of accumulated debts until 2021. “Accrued interest expenses for the nine months of 2021 amounted to 11.5 billion rubles,” said Maxim Sakharov, Deputy Chairman of the Management Board for Economics and Finance of Rusnano Management Company.

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